Intel has predicted that it will post a revenue of $11.8 billion for the fourth quarter of 2010.
The chip giant's predictions indicate at a much needed boom in enterprise IT spending and has been welcomed by Wall Street analysts.
The company predicted a fourth quarter gross margin of 67 per cent which indicates at a rise in server and data centre spendings, which could in turn strike a balance with the fall in PC sales due to tablet PCs.
In a conference call with analysts, Intel CEO Paul Otellini said that the demand for the company's next generation Sandy Bridge chip was larger than it had originally anticipated.
According to Reuters, the company also maintained that it would post end-quarter revenue of anything between $11.0 billion to $11.8 billion, similar to what analysts had earlier predicted.
Intel's chief financial officer Stacy Smith said in a statement to Reuters: “We'll see the consumer market growing but likely a little less than you'd normally expect. I attribute that to consumers pulling back a little bit based on economic uncertainty.”